Digital Galaxy Prediction: At Least Five Crypto Treasury Companies Threatened to Go Out of Business in 2026

Jakarta, Pintu News – Galaxy Digital recently issued a warning that some crypto finance companies may be forced to sell assets, be acquired, or even cease their operations. The decline in market value has exposed weaknesses in some companies’ digital asset management models. With the market becoming increasingly competitive, 2026 is expected to be a critical time for these companies.

Declining mNAV in the Spotlight

Galaxy Digital highlights the sharp decline in market value to net asset value (mNAV), which is an important metric in assessing the value of a company compared to the value of the crypto assets it holds. Currently, many companies that focus on Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) have an mNAV below 1, meaning investors value them less than the assets they hold.

When mNAV falls below 1, it becomes detrimental to issue new shares as it dilutes the value of existing shares. This limits the company’s ability to raise capital and expand their crypto holdings. This situation suggests that these companies may face difficulties in maintaining growth and financial stability.

Also read: Why Silver Could Surpass Gold and Bitcoin by 2026?

Increasingly Competitive Market Realities

The crypto finance company (DAT) boom has been fueled by a bullish market and friendlier regulations in the United States, as well as easier access for investors to enter the crypto market through ETFs. Many DATs seek to outperform crypto spot prices by using tools such as equity issuance and staking strategies.

However, with declining prices, these models are starting to feel the pressure. Analysts from Macquarie warn that DAT’s survival depends largely on their ability to maintain a premium over NAV. If this premium erodes or even turns into a discount, their business model will face major challenges.

Read also: World’s Top 3 Stocks by Earnings in 2025

Only the Strongest Survive

Galaxy suggests that companies with large scale, strong capital structure, and good liquidity planning, such as Japan-based Strategy or Metaplanet, may be able to survive in a down market. In contrast, companies that enter late and do not have a clear plan may not survive.

Currently, DAT holds less than 1% of the total crypto market. However, the message from Galaxy is clear: the easy phase of crypto finance trading is over, and the next chapter will demand more discipline than hype.

Conclusion

With growing challenges and an increasingly volatile market, crypto finance companies must prepare more mature and sustainable strategies. Those who are able to adapt to market conditions and manage assets effectively will continue to survive, while others may have to face the harsh reality.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Coinpedia. At Least Five Crypto Treasury Firms Face Asset Sales or Closure in 202, Galaxy Says. Accessed on December 29, 2025
• Galaxy Digital Research. 26 Crypto, Bitcoin, DeFi, and AI Predictions for 2026. Accessed on December 29, 2025
• Featured Image: Generated by Ai